Quick Overview

• U.S. GDP rose 0.7% in Q1 and up 2.4% YoY
  

• The University of Michigan's consumer sentiment index rose from 73.6 to 76.0 in June
  

• Japan's consumer price index fell 0.9% YoY – Govt. goal of ending deflation next fiscal year in doubt.
  

• France's GDP rose 0.1% in Q1 – and Paris announces a further €3.5bn of tax rises for 2011.
  

• The USDA said that beef production totaled 2.09 billion pounds in May, down 4% YoY
  

• The USDA said Pork production totaled 1.62 billion pounds in May, down 6% YoY
  

• (FT) The modest appreciation in the level of the currency during the first week of trading under the new flexible regime has raised questions about Beijing’s real intentions.
  

• (Reuters) - A bomb explosion at the Greek ministry in charge of police could be an ominous show of strength by militants in a nation suffering austerity cuts that have sparked street protests and scared off tourism.
  

• (Bloomberg) -- Residents and business owners along the Gulf of Mexico face a weekend of watching and planning as a weather system that may become the year’s first tropical storm, or hurricane, lingers on their doorstep.